Kirill Gertman

The real value of stablecoins lies in their ability to provide instant and secure transfers of value. But, in a world where every company has a bespoke stablecoin, that promise begins to break down quickly.

The groundwork for a system of international payments that bypasses the sclerotic SWIFT network has been created. Now the banking industry needs to get behind the switch to blockchain-based payments.

To create sensible rules around decentralized finance, regulators have to have an open discussion with businesses in the industry. To do that, they must create a path for collaboration.